Pak-Qatar Asset Management Company announces approval of Shariah Compliant Collective Investment Schemes
Pak-Qatar Asset Management Company Limited (PQAMCL) recently announced that the Securities and Exchange Commission of Pakistan (SECP) has accorded approval for the launch of its Shariah Compliant Collective Investment Schemes (Mutual Funds). PQAMCL is going for IPO of its funds. PQAMCL obtained its license to operate as an Asset Management Company and Investment Advisor in…
Adil Aziz
MMBL Announces Major Policy Changes to Financially Empower Employees amidst Inflation
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited has announced the conversion of all of its Bank Contract Employees to Full-Time Employees (FTEs). Under the policy change, contractual employees will be habilitated to permanent employees in phases, subsequently getting medical insurance for them as well as their families. The FTE policy revisions reflect MMBL’s commitment…
NdcTech enters into a strategic collaboration with Red Hat
NdcTech, a global IT and consulting company providing transformational services for Banks and financial institutions has announced a collaboration with Red Hat, the world’s leading provider of enterprise open-source solutions, to deliver solutions based on cloud-native, open-source technologies in support of financial institutions. As part of this collaboration between the two entities, Red Hat recognizes…
PTCL, PPAF collaborate to boost digital, financial inclusion of women
Pakistan Telecommunication Company Limited (PTCL) Group has entered into a strategic partnership with Pakistan Poverty Alleviation Fund (PPAF) to foster digital and economic inclusion of women entrepreneurs through training and access to digital and financial tools and opportunities for economic growth. Group Chief Commercial Officer (GCCO), PTCL Group, Adnan Anjum and Chief Operating Officer (COO),…
ADB’s ongoing sovereign portfolio in Pakistan includes 48 loans worth $8.42 Billion
The ongoing sovereign portfolio of Asian Development Bank (ADB) in Pakistan includes 48 loans and three grands worth of $8.42 billion. According to the member fact sheet released by the ADB, in 2021, ADB’s loan and grant disbursements to Pakistan amounted to $1.31 billion, comprising $0.3 billion in program lending and $1.01 billion from project…
Mobilink Microfinance Bank Promotes Financial Inclusion and Supports Farmers with Programmes to Drive Economic Prosperity in Pakistan
Mobilink Microfinance Bank Limited, VEON’s financial services arm and the largest digital bank in Pakistan, launched three major microfinance initiatives as part of its continuing efforts to financially empower women entrepreneurs and to support small and medium-sized farmers in the country. The initiatives were formally launched by VEON Group CEO, Kaan Terzioglu, during his recent…
NBP stall attracts Chinese financial institutions in Beijing
The National Bank of Pakistan (NBP) booth set up in Shougang Park, at China International Fair for Trade-in-Services 2022, to introduce its services to the Chinese small and medium enterprises (SMEs), state-owned enterprises (SoEs), traders and ongoing cooperation with Chinese financial institutions attracted many visitors, said Shaikh Muhammad Shariq, Chief Representative of NBP in China….
No Restrictions on Import of Raw Materials: SBP Clarifies
Lately, some media reports and representatives of trade organizations have claimed that banks are not opening Letters of Credit (LCs) for essential raw materials including pharmaceuticals. This is contrary to the facts. It is clarified that there is no restriction on the import of raw material for any industry including export-oriented industry. It is further…
SECP registers 2,362 new companies in August 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 2,362 new companies in August 2022, raising the total number of registered companies to 176,329. This shows an increase of 16% as compared to corresponding period last year. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs4.9 billion. Foreign…
Pakistani fintech enables employees to donate to flood-affected
ABHI along with its clients, employees, users, and investors is channeling donations using its robust platform to support the bigger cause by partnering up with leading NGOs like JDC, Al-Khidmat, and Saylani who are at the forefront and are actively providing relief to flood victims on the ground. For the first time ever in Pakistan,…